A record of over $10 billion! The majority stake in the Lakers will change hands with a new owner at the helm of the 300 billion company

On June 19, Beijing time, according to ESPN's Shams, the Los Angeles Lakers are about to change hands after decades of control by the Buss family. The Bass family is striking an agreement with TWG Global CEO and Chairman Mark Walter to sell a majority stake in the NBA team. The deal, valued at about $10 billion, will be the largest sale in the history of a global professional sports team. Jeanie Buss will continue to be the manager of the team.The Athletic followed up by reporting that a source with knowledge of the talks said the deal, which has not yet been finalized, could be worth $12 billion.

What is the origin of the new owner of the Lakers?

According to Forbes, Walt, the new owner of the Lakers, has a net worth of $6.1 billion and invests in a number of professional sports organizations, including the Los Angeles Dodgers, the Los Angeles Sparks, the Billie Jean King Cup, the Cadillac F1 Team and the Women's Professional Hockey League.He is the CEO of Guggenheim Partners, an investment firm with more than $300 billion in assets under management.

Walter has been one of the owners of the Los Angeles Dodgers since 2012, when his investment group, which includes "Magic" Johnson, bought the team for $2.2 billion. Walter has been a Lakers shareholder since 2021, when he also received a right of first refusal to purchase a majority stake in the team.

More than 10 billion transactions set a record

The deal, valued at about $10 billion and expected to close for $12 billion, will be the largest sale in the history of a global professional sports team. The deal comes after two of Jenny Buss' closest friends in NBA ownership circles had completed team sales over the past two years: Mark Cuban for a majority stake in the Dallas Mavericks for $3.5 billion and Wyke Grosbeck for the Boston Celtics for $6.1 billion.

The Lakers celebrity Magic even tweeted: "As I expected, when the Celtics sold for $6 billion, I knew the Lakers were worth $10 billion!" ”

Lakers history of the Buss family

In 1979, Jerry Buss bought the Lakers for $67.5 million, a deal that also included the NHL's Los Angeles Kings and Forum Arena. After Jerry's death in 2013, the team passed to his children, and Jeanie Buss has been the owner of the team ever since, and is expected to remain in the role after the deal closes. The Buss family currently owns about two-thirds of the Lakers, and Walter's exact stake in the acquisition has not been disclosed.

Under the Buss family, the Lakers became one of the top teams in the sport, winning 11 NBA championships (most recently in 2020), including three in a row from 2000 to 2002 under coach Phil Jackson and Kobe Bryant. Notably, the team shocked the entire NBA by trading Mavericks superstar Luka Doncic last season.

While Jenny will remain at the helm of the Lakers, the Buss family's sale marks the end of an era that has led the NBA on multiple levels for decades.

After the Lakers changed hands, many Lakers media welcomed it, believing that the new owner should be more willing to spend money than Jenny and be optimistic about the Lakers' future operations.

Attached: The acquisition of the five major teams in the history of sports——

5. Phoenix Suns and Mercury (2023): $4 billion

In 2023, Ishbia jointly acquired the Phoenix Suns and Mercury for $4 billion, which was the highest price for an NBA team at the time. He bought both teams from Robert Saffer.

4. Denver Broncos (2022): $4.65 billion

In 2022, the Denver Broncos were sold by the Pat Bowlen Trust to the Walton Pena family, which is known for owning the large supermarket chain Walmart. Pat Bowlen's death three years ago led to the historic team being sold.

3. Commander Washington (2023): $6.05 billion

After a series of controversies surrounding former owner Dan Snyder, he sold the Washington Commanders to Josh Harris. Harris is a member of the ownership group that owns the Philadelphia 76ers. After buying the Commanders, the team turned things around, signing star rookie Jaden Daniels and making it all the way to the National Football League Championship.

2. Boston Celtics (2025): $6.1 billion

The Boston Celtics outsold the Commanders, selling for a record $6.1 billion at the time. The Grossbeck family chose to sell the team to William Chisholm, who is a co-founder of the Symphony Technology Group. Wyke Grossbeck will continue to manage the team until the 2027-2028 season, after which the management of the team will be handed over to Chisholm.

1. Los Angeles Lakers (2025): Over $10 billion

The Lakers surpassed the Celtics to set a record for the largest trade in sports history. As mentioned, Walter bought a majority stake in the team from the Bass family, securing the record for the largest deal in sporting history. The Lakers may make some major changes, but Jenny Buss will remain the team's manager for now.